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Cable Update (GBPUSD)

  • #754,181
  • Jun 26, 2023 3:19am Jun 26, 2023 3:19am
I’m getting messages as to what An Algorithm is ?

An algorithm is a procedure used for solving a problem or performing a computation. Algorithms act as an exact list of instructions that conduct specified actions step by step in either hardware- or software-based routines.

So the Algorithm in trading collects data from market participants and process them. It is designed by engineers through machine learning, AI and so on, so they can run on their own.

The importance of this Algorithm is to make sure the “system” function in a steady state and “infinite”

The Algorithm can also be upgraded that’s why some strategy would start under performing over time.

Im just trying to determine how the system works!
My telegram: https://t.me/avidforex
  • #754,182
  • Jun 26, 2023 3:22am Jun 26, 2023 3:22am
Break and close above:
2142 on H1
2146 on H4

to confirm Long Bias
in wondering about yourself, you forgot what you came here to be part of
  • #754,183
  • Jun 26, 2023 3:25am Jun 26, 2023 3:25am
DJIA Dolla Index

Price testing resistance
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #754,184
  • Jun 26, 2023 3:27am Jun 26, 2023 3:27am
Quoting BigNumbers
I’m getting messages as to what An Algorithm is ? An algorithm is a procedure used for solving a problem or performing a computation. Algorithms act as an exact list of instructions that conduct specified actions step by step in either hardware- or software-based routines. So the Algorithm in trading collects data from market participants and process them. It is designed by engineers through machine learning, AI and so on, so they can run on their own. The importance of this Algorithm is to make sure the “system” function in a steady state and “infinite”...
the key elements of an algorithm according to ChatGPT:

Key characteristics of algorithms include:

  1. Input: Algorithms take input, which can be in the form of data, variables, or parameters. The input is processed by the algorithm to produce an output.
  2. Output: Algorithms produce output, which is the result or solution to the problem they are designed to solve. The output can be in various forms, such as numbers, text, images, or actions.
  3. Clear and unambiguous steps: Algorithms consist of well-defined and unambiguous steps that are easy to understand and follow. Each step should be precisely specified and must be capable of being executed.
  4. Finiteness: Algorithms must terminate after a finite number of steps. They should not loop indefinitely or go into an infinite loop.
  5. Determinism: Algorithms should produce the same output for the same input, regardless of the environment or the device on which they are executed. They should be deterministic and predictable.
  6. Efficiency: Algorithms aim to solve problems efficiently. This means they should strive to achieve the desired outcome using the least amount of resources, such as time, memory, or computational power.

in wondering about yourself, you forgot what you came here to be part of
  • #754,185
  • Jun 26, 2023 3:36am Jun 26, 2023 3:36am
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yes yes yes
  • #754,186
  • Jun 26, 2023 3:42am Jun 26, 2023 3:42am
Quoting Pat Chiko
GU My thought process for GU set up . Looking at Supply/Demand (Order Block location) Structure are a bit stick with mixed formation between HTF and LTF. When the retail trader commits to the wrong side of the market, the MM can then take their liquidity away by buying from the retail trader who is selling, or selling to the retail trader who is buying. Once the MM has taken the liquidity away from the retail trader, they can then resume their original plan. This plan may be to buy the security at a lower price, or sell the security at a higher...

Hi Pat, In my day as a bank/hedge fund trader there weren't as many 'retail traders' and we certainly gave no thought to them re liquidity, stop hunting, or anything like that. Yes, today there are more of them and they contribute more volume but at best guestimates it's still only circa 5% so although some more clued-up boutique funds may know where retail stops are and how they are positioned, most trade longer-term global macro/fundie/quant models so entry is less important than the exit - which will happen some way down the line, when 99.9% of retailers are out. Yes of course the prop operations at banks may look for this liquidity, but I think it is more fair to say they are looking for liquidity in general as opposed to retail liquidity specifically. Remember they can see the real 'order book,' which at the retail level we cannot as easily. Anecdotally, when I talk to 2 ex-colleagues still trading at institutions they never mention or give a thought to retail or indeed the intricacies of TA. When I talk to them about the current tech situation on any given instrument on longer t/f's I lose them, I can see their eyes glaze over - lol!
Trader with an Edge.
  • #754,187
  • Jun 26, 2023 3:43am Jun 26, 2023 3:43am
Quoting Jolita
{quote} What time frame this is? Looks like a bullish flag, but I expect break out lower, 3 times tested already, one more test should do the job.
1HR
  • #754,188
  • Jun 26, 2023 3:47am Jun 26, 2023 3:47am
took short 1.2738 sl 1.2750 ...sell again @1.2715 tp 1.2650
  • #754,189
  • Jun 26, 2023 3:48am Jun 26, 2023 3:48am
ok a double support over a confirmation level reaction ,. as la last leg up to down most probably. . next signal top failure should be 2728
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #754,190
  • Jun 26, 2023 3:49am Jun 26, 2023 3:49am
Another observation about the market!

If an asset is liquidated and fall to demand on the daily time frame which is actually a signal for a Long trade but has a monthly supply above the demand level. The monthly supply is likely to override the daily demand 98% of the time. There is an added advantage, If you understand candle sticks to see when it is happening in real time.

That’s one of the reason for failure in Forex! There is Weekly, Monthly, 3Months, 6Months, 12Months and Yearly time frame! The higher time frame tends to over ride the analysis on the lower time frame.

The higher your time frame of analysis, the higher your percentage of winning. Spend more time on the higher time frame.
My telegram: https://t.me/avidforex
  • #754,191
  • Jun 26, 2023 3:57am Jun 26, 2023 3:57am
Quoting navk
{quote} I think you closed prematurely as your entry is not so good. The price unlikely to drop below 2704 IMO. Let us see.
i expect at least 13 pips below this week open of 1.2710, this means 1.2697 will very likely be touched.

My bias this week is bullish to 1.2900 as far as price trades above 1.2670, but will wait to buy anywhere from 1.2697 area.
Data + Stat + Risk/Emotions Management
  • #754,192
  • Jun 26, 2023 3:58am Jun 26, 2023 3:58am
Quoting Bella.al
{quote} Current Rate : 1.27464 This is really cool!.. heading for Bella's Price Objective 1: 1.27835 Bella.
Current Rate : 1.27383

market is very slow, i have currently floating profit of +27 Pips . There is D-R1 1.27470 which i require to be taken by Bulls, I need
Bella's Dynamic Support : 1.27047 hold for my open position .

Bella's Blue
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Goddess of Thunder..
  • #754,193
  • Jun 26, 2023 3:58am Jun 26, 2023 3:58am
Quoting OperaniyiFx
{quote} enter back my friend… it’s 100% safe Your TP is realistic
I appreciate the suggestion mate, but nothing is 100% in forex.
Data + Stat + Risk/Emotions Management
  • #754,194
  • Jun 26, 2023 3:59am Jun 26, 2023 3:59am
Quoting Robinhood1
{quote} Usdchf Expecting target beyond 0.9400
Usdchf
Current target: 0.9470 and rising
POSTMASTER
  • #754,195
  • Jun 26, 2023 4:06am Jun 26, 2023 4:06am
Buy setup gbpusd on M5 @ 2742
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in wondering about yourself, you forgot what you came here to be part of
  • #754,196
  • Jun 26, 2023 4:12am Jun 26, 2023 4:12am
Don’t over trade on Mondays… at most 2 trades and if your stop gets hit… Don’t take any more trade, Go out amd do something else or just trade demo if you don’t have any other thing to do.
My telegram: https://t.me/avidforex
  • #754,197
  • Jun 26, 2023 4:13am Jun 26, 2023 4:13am
gbp/usd.

the pair still clings to the bullish trend channel, but 1.27500
it forms a resistance level. This level must be broken through for further growth.
H1-H4.
  • #754,198
  • Jun 26, 2023 4:13am Jun 26, 2023 4:13am
Quoting Pat Chiko
DJIA Dolla Index Price testing resistance{image}
Don't you think its done and gone? It was tested before after initial fall.
This is how I see it.
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The scent of a rose will always stay on the hand of the giver.
  • #754,199
  • Jun 26, 2023 4:14am Jun 26, 2023 4:14am
Quoting pipfarm
USDCAD H4 is moving down with D1 so this is a case of waiting for H1 to correct before taking a short if the opportunity arises.

USDCAD

H1 has now moved into a correction against H4 whilst H4 is moving down with D1 so we wait for a possible opportunity to sell as H1 moves into alignment with H4 and D1
Follow The Markets Structure - Patience and Discipline
  • #754,200
  • Jun 26, 2023 4:19am Jun 26, 2023 4:19am
In Comparison GU, GOLD, S&P500

GU is a bit sticky to trade if compares to :

GOLD/XAU/USD ( correlated)
Attached Image (click to enlarge)
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and S&P 500 ( Inverse)
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The GU currency pair is a nervous one to trade because it does not move smoothly in accordance with support and resistance (S&R) zones.
This means that the price of GU can often be erratic and unpredictable, making it difficult to trade profitably.

In contrast, the GOLD and S&P500 currency pairs are more likely to abide by S&R zones and will act accordingly to order blocks.
This means that the price of GOLD and S&P500 is more likely to move in a predictable manner, making them easier to trade profitably.

Just an observation and not a hard trading rules.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
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